Jill paid $3,000 in interest on her student loans this year. Jill is single, and earned...

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Jill paid $3,000 in interest on her student loans this year. Jill is single, and earned...

Jill paid $3,000 in interest on her student loans this year. Jill is single, and earned $69,000 from her job as an analyst and $8,500 in interest income. She had no other income this year. What amount of Jill's student loan interest is deductible for AGI this year?

A. $1,500.

B. $0.

C. $1,250.

C. $2,500.

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Answer 1

Answer #1

For 2019 the maximum student loan interest is deductible for AGI remains $ 2500.

As Jill paid $3,000 in interest.

Lower of $ 2500 or $3000 will be deducted.
= $2500

Answer. $2,500

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Answer 2

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